Georgia has received credit for the construction of Paravani hydroelectric power station

2011-06-27 15:14

Company Georgian Urban Energy (GUE), which is owned by a Turkish company Anadolu Endustri Holding, and which will implement the project on construction of Paravani hydro power in Georgia, will get credit in ammount of $ 115.5 million. According to the "Georgia-News", the credit is allocated by the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC).

Means allocated under the loan will be used to co-finance the construction and operation of Paravani hydro power of capacity of 87 MW in Javakheti. The funds will be allocated in two stages.

The total project cost is estimated at 160 million dollars.

As planned, the installed capacity of Paravani hydro power will ammount 87 MW.

This is the first investment of EBRD and IFC in the energy sector in Georgia, was noted by the structures of the bank.